Climbing Gears Market Anticipated to Reach $2.7 Billion by 2031, Growing at a CAGR of 7.9%
Climbing gears market size was valued at $1.3 billion in 2021, and is projected to reach $2.7 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031.
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The climbing gears market size was valued at $1.3 billion in 2021, and is estimated to reach $2.7 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031. The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future.
The market for climbing gear market is mostly driven by the invention of new accessories in the climbing and hiking industry. An altimeter watch is a helpful navigational tool in low visibility. Altimeters use barometric pressure to calculate your height and location on the mountain. Readings can be made more precise by periodically entering a specified altitude. Even when there is no mobile coverage, it utilizes the mapping apps on phone to use GPS navigation. Thus, the development of new accessories is a major Climbing Gears Market Trends that is creating opportunities for the business to expand.
The market's overall expansion is primarily the result of these recent changes. However, the high cost of climbing gear is a major restraint on the demand for climbing gear. climbing gear can be relatively expensive, especially for high-quality equipment that meets established safety standards. In addition, a lack of awareness about the importance of using proper gear can restrain the Climbing Gears Market Growth.
According to the Climbing Gears Market Analysis, the market is segmented on the basis of type, end-use, distribution channel, and region. By type, the market is classified into a climbing harness, specialized clothing, climbing carabiners, and others. By end use, the market is classified into men, women, and kids. Based on the distribution channel, the market is bifurcated into online and offline. Region-wise, it is analyzed across North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Italy, Belgium, Russia, Netherlands, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Indonesia, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, Chile, Turkey, South Africa, and Rest of LAMEA).
Based on the type, the climbing harness segment held the highest share in 2021, accounting for nearly two-fifths of the global climbing gear market revenue and is expected to continue its leadership status during the forecast period. However, the climbing carabiners segment is expected to register the highest CAGR of 8.5% from 2022 to 2031. The report also discusses the specialized clothing and others segments.
Based on the end use, the men segment accounted for the highest share in 2021, generating more than half of the global climbing gear market revenue and is projected to rule the roost by 2031. Simultaneously, the kids segment would showcase the fastest CAGR of 8.9% from 2022 to 2031. The women segment is also analyzed throughout the report.
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Based on distribution channel, the offline segment accounted for the highest share in 2021, holding more than four-fifths of the global climbing gear market revenue, and is expected to maintain its lead in terms of revenue during the forecast period. The online segment, however, is estimated to grow at the highest CAGR of 9.0% from 2022 to 2031.
Based on region, North America held the largest share in 2021, contributing to more than two-fifths of the global climbing gear market revenue, and is projected to maintain its dominant share i terms of revenue during the forecast period. However, the LAMEA region is expected to manifest the fastest CAGR of 9.4% from 2022 to 2031. The other regions analyzed in the study include Asia-Pacific and LAMEA.
The prominent market players analyzed in the global climbing gear market report include ANTA Sports Products Limited, Kailas Sports Product Co., Ltd., DMM International Ltd., Mad Rock Climbing, Great Trango Holdings, Inc., Petzl Distribution, Grivel S.r.l., Metolius Climbing, SINGING ROCK s.r.o., Mammut Sports Group AG, CAMP SpA, EDELRID GmbH & Co. KG, and Ober Alp SPA.
Key Finding Of the Study:
➢ By Type, the climbing harness segment was the highest revenue contributor to the market in 2021, and is expected to grow at a significant CAGR during the forecast period.
➢ By Application, the men segment was the highest revenue contributor to the market in 2021, and is expected to grow at a significant CAGR during the forecast period.
➢ By Distribution Channel, the offline segment was the highest revenue contributor to the market in 2021, and is expected to grow at a significant CAGR during the forecast period.
➢ By Region, the North America region was the highest revenue contributor to the market in 2021, and is expected to grow at a significant CAGR during the forecast period.
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